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    Bitcoin Daily Discussion, November 09, 2020

    November 09, 2020

    Bitcoin Daily Discussion, November 09, 2020

    Daily Discussion, November 09, 2020

    Posted: 08 Nov 2020 11:00 PM PST

    Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!

    If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.

    Join us in the r/Bitcoin Chatroom!

    Please check the previous discussion thread for unanswered questions.

    submitted by /u/rBitcoinMod
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    When Lambo Retro style Final edition

    Posted: 09 Nov 2020 12:34 AM PST

    Talked to the wife into buying 1 BTC

    Posted: 08 Nov 2020 05:31 PM PST

    We're in the process of selling our home and downsizing a bit in a new city. We talked to our Realtor, and estimate getting about $52k back, which we'll of course use for paying off debts and such. After all is done, we should still have about $25k left for savings.

    I showed her this year's performance, and how more and more classic financial institutions are turning to BTC as investment. She loved the idea, and asked how we could invest part of the profit long term.

    Looks like we'll be purchasing a full BTC once we're all set, and hold it long term. Much different then my normal DAC method, but it's going to feel so good to have real skin in the game.

    submitted by /u/dm7500
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    Are there any other hodlers out there who look at the exchange rate several times a day but don't even consider selling?

    Posted: 08 Nov 2020 07:12 AM PST

    The Bitcoin Whitepaper - if you haven't read it, now is the time.

    Posted: 08 Nov 2020 05:14 PM PST

    “I STRONGLY RECOMMEND BUYING BITCOIN AT CURRENT PRICES” Legendary Investor Bill Miller 11/06/2020

    Posted: 08 Nov 2020 02:22 PM PST

    Bond Investor Bill Miller - "Everybody is Going to Want to Own Some Bitcoin" - Nov 6th 2020

    Posted: 08 Nov 2020 08:17 PM PST

    XKCD: 2010 vs 2020

    Posted: 08 Nov 2020 06:13 AM PST

    On our way

    Posted: 08 Nov 2020 01:17 PM PST

    JPMorgan Says Institutions Ditching Gold ETFs for Bitcoin

    Posted: 08 Nov 2020 09:42 AM PST

    Bitcoin at $15K is now bigger than PayPal, Coca Cola, Netflix, Disney

    Posted: 08 Nov 2020 09:50 PM PST

    JP MORGAN SAYING INSTITUTIONS DITCHING GOLD ETFS FOR BITCOIN

    Posted: 08 Nov 2020 06:37 PM PST

    The Big News to start of the week. Bitcoin and JP MORGAN. Every one want to join the party. 👇

    submitted by /u/Rahul_2503
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    Words to the wise and the newcomers.

    Posted: 08 Nov 2020 08:08 PM PST

    I've been in Bitcoin since 2014 and I have learned enough to maybe be of help. We always hear the now old adage, "not your keys not your coins." That's sadly accurate as a vast majority of exchanges are scary to trust. So if you have a considerable amount of Bitcoin, and sometimes get a bit anxious about losing it in bout of stupidity or bad luck, then you are like me. Here is what I did to stop losing sleep over mucho dinero disappearing.

    1. Get a hardware wallet. I like Trezor the best. I have had a Keepkey and a Ledger Nano as well. But this is a matter of personal taste in terms of interface preferences.
    2. Write down your keys (obviously), and put them somewhere safe and sneaky. Also memorize them if you are so inclined.
    3. If you have a fireproof safe, cool. If not, get a small one that can handle at least an hour of blazing fire action.
    4. Get a fire proof bag/pouch, put a copy of your keys in there and put said bag in the safe.
    5. The get something like Cobo Tablet - Indestructible Steel Bitcoin Crypto Cold Storage Seed Backup ... and put that in the bag as well just in case a possible fire chars your little piece of paper.
    6. Get a few little usb drives, password encrypt a text file of your keys on to each with a password you will not forget. Make it something simple or common to you as these drives will be hidden where no one will ever find them ... except you if there is a worst case scenario.
    7. Hide these away from your home. Maybe at grandmas house inside the grandfather clock. You know what i'm talking about. And hide one in your car.

    Now there is no reason to worry. And yes, it sounds paranoid and takes a little bit of effort; but it's way better than losing 100's of thousands or millions of dollars. And you will fall asleep much faster as you watch the BTC ticker.

    Hodl and stack on, brothers and sisters.

    -fist-

    submitted by /u/Hot_Fist
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    Can someone recommend me some crypto lawyers ?

    Posted: 09 Nov 2020 01:53 AM PST

    Can someone recommend me some crypto lawyers ?

    I'm looking for a good lawyer specialized in cryptocurrency some recommendation ?

    More details about claim are here :

    https://www.reddit.com/r/KrakenSupport/comments/jqltke/im_sick_of_waiting_with_82_btc_on_hold/?utm_source=share&utm_medium=web2x&context=3

    Thanks in advance

    submitted by /u/David4off
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    Bitcoin now has a higher market cap and is more valuable than the Russian Ruble

    Posted: 09 Nov 2020 02:55 AM PST

    I'm FOMO'ing right now.

    Posted: 08 Nov 2020 03:31 PM PST

    was the dip the last dip before 20k? I was hoping a drop down to 13k but i don't think that's going to be happening anymore. My emotions are getting the best of me.

    submitted by /u/BihChassNi69a
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    The number of people who think the economy will collapse without an inflationary currency is astounding

    Posted: 09 Nov 2020 01:34 AM PST

    I frequently talk to people online about bitcoin and an argument I hear all too often is that they economy will collapse if we don't have an inflationary currency. Their argument usually claims that people will simply hoard their currency, spend nothing and hence the economy will collapse.

    This is just so ridiculous to me that I'm compelled to write this post to get your feedback. My argument hinges on two main points;

    1. People have needs, and no matter what currency they use, they will also spend to fulfill those needs. They will eat, they will purchase transport and they will purchase housing. This will never stop happening since they are all essential. Another need that people have is pleasure. They will always purchase pleasurable items such as super cars, movie tickets and drugs. These things aren't going away.

    2. Their argument claims that because the people's currency is INCREASING in value, then people have no incentive to spend. But this is a very flawed argument. For many wealthy people, the majority of their wealth IS increasing. For example their stocks and real estate. Yet still, these people routinely sell these profit making assets to purchase things, for example yachts, properties and other business ventures.

    Another aspect related to point 2 is one many in this sub will have undoubtably felt; the desire to take profit or divest. Bitcoin is a great example, if your bitcoins are able to purchase you a Toyota last month but this month a Lamborghini, there is a strong sense to purchase things, because you now can. You are pleased with your increase in net worth and are enticed by the pleasures you can now afford.

    1. Another point is that on a global scale the effect of the currency actually increasing in value will be almost unnoticable much the same as we dont notice the decrease in value of our dollars day to day. This relates to an argument that gets made on this topic, here people claim that dollars are incentivised to be spent due to their inbuilt loss in value. But the average person both has no clue that their currency is losing value, they can't even notice it either since the effect on prices isn't immediately evident until you look at historic pricing. Global deflation would look the same, where day to day prices would be incredibly stable but zooming out to timelines over decades you would be able to see the steady increase in purchasing power of the currency.

    So why on Earth is everyone so indoctrinated to think that an inflating currency is essential to the economy. The economy will continue regardless. Even if the economy was denominated in a currency which was increasing in value, investment would simply be about beating that increase, ie trying to profit MORE than the underlying currency.

    What are your thoughts?

    submitted by /u/iusedafakeemailih
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    The latecomer’s BTC journey

    Posted: 09 Nov 2020 02:41 AM PST

    Monday Art - Decentralife

    Posted: 09 Nov 2020 04:03 AM PST

    Just regained access to my old wallet

    Posted: 08 Nov 2020 08:31 PM PST

    Following instructions I found on this sub I just regained access to a wallet and 10 coins I mined back in 2013 (the other 40 lost at mtgox). I don't follow bitcoin closely at all anymore, so I am wondering

    1) What is the best way to protect my wallet / it's just an unencrypted file sitting on my drive currently. 2) I will continue to hold the btc as I don't really need the money right now and I'd like to think it can go higher in the future. However, I've heard of other coins splitting off of bitcoin in the last few years. Can I claim and cash them out or has that ship sailed?

    submitted by /u/btc_throwaway_mn
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    Ledger Text?

    Posted: 08 Nov 2020 06:09 PM PST

    Just got this text:

    Ledger(Alert)

    You just sent 0.012223 BTC(0/28 confirmations). Please visit ledger-chain.claims within 45 mins if you need to cancel.

    Any advice?

    submitted by /u/MajinJuuu
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    Trying to wrap my brain around Bitcoin ... Honest dialogue, not trolling - please discuss with me

    Posted: 08 Nov 2020 01:14 PM PST

    Hey all ...

    I have been around since 2017 or so but never thought of BTC as more than a way to make more Fiat. Now I am actually starting to understand BTC for itself, and not as a mechanism just to make more dollars.

    Just finished bitcoin billionaires and am now listening to 'the bitcoin standard' audiobook.

    My biggest question : It doesn't seem like BTC is very effective yet at being used as actual money. In the bitcoin standard, at the beginning of the book when he is going through all the different currencies through out history, their primary purpose and function was the ability to be used for buying goods and services. BTC obviously meets many other criterias, and exceeds many such as gold, seashells, usd etc...

    From what I can tell BTC is no more usable today than three years ago. What is being done right now to make it more usable? I think the network still clogs easily etc?

    Will there be a day when BTC core increases the block size but does it in a way that doesn't create a war in the community like Ver did?

    Or are we no longer trying to use BTC as day to day currency and only adopting the 'store of value' narrative?

    These are genuine questions and I would appreciate non trolling genuine answers

    Thank you

    submitted by /u/professordurian
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    Remember (and warn all your friends): Paypal only sells "fake" Bitcoins.

    Posted: 08 Nov 2020 06:32 PM PST

    There is no substitute for holding the real thing, actual Bitcoin for which you control the private keys -- especially in these uncertain and perilous financial circumstances.

    ​

    "Not your keys, not your Bitcoins."

    submitted by /u/Mark_Bear
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    DCA is ok. But if you want at least 1 BTC, you should hurry

    Posted: 08 Nov 2020 07:02 AM PST

    My opinion: after this bull run, if 1BTC=100k USD, acquiring one BTC will be impossible for many people, even if it drops back to 50k USD afterwards.

    I am no advising to convert all your savings into BTC. Just never do that. But if it is already difficult for you to convert 15k for 1BTC (like 90% of the population he, no shame for that), it can only become more difficult.

    submitted by /u/Mekilekon
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    I love when you DCA like $25usd into BTC then you wake up and you made your fees back and more.

    Posted: 08 Nov 2020 01:06 PM PST

    Small wins. Keep stacking friends.

    submitted by /u/Parking_Meater
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